CenterPoint Energy, Inc. (NYSE:CNP) – Equities research analysts at SunTrust Banks cut their Q3 2017 earnings estimates for CenterPoint Energy in a note issued to investors on Friday. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.45. SunTrust Banks also issued estimates for CenterPoint Energy’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $1.33 EPS, Q1 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.28 EPS, FY2018 earnings at $1.41 EPS, Q1 2019 earnings at $0.41 EPS and FY2019 earnings at $1.49 EPS.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 36.1% compared to the same quarter last year.
CNP has been the topic of several other research reports. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Friday, June 16th. J P Morgan Chase & Co started coverage on shares of CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 target price on the stock. Deutsche Bank AG upped their target price on shares of CenterPoint Energy from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, BidaskClub downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. CenterPoint Energy has a consensus rating of “Hold” and an average target price of $27.33.
CenterPoint Energy (NYSE CNP) opened at 29.05 on Monday. The firm’s 50 day moving average is $27.92 and its 200 day moving average is $27.56. CenterPoint Energy has a 52-week low of $21.83 and a 52-week high of $29.14. The company has a market cap of $12.52 billion, a PE ratio of 26.90 and a beta of 0.64.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock worth $102,000 after buying an additional 564 shares during the period. Paradigm Asset Management Co. LLC increased its position in shares of CenterPoint Energy by 2.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after buying an additional 100 shares during the period. Johnson Financial Group Inc. increased its position in shares of CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock worth $134,000 after buying an additional 1,084 shares during the period. Huntington National Bank increased its position in shares of CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after buying an additional 2,250 shares during the period. Finally, Mirador Capital Partners LP bought a new position in shares of CenterPoint Energy during the first quarter worth $200,000. Institutional investors own 77.16% of the company’s stock.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $27.66, for a total transaction of $27,660.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 3,000 shares of company stock worth $84,560. 0.20% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a yield of 3.68%. CenterPoint Energy’s dividend payout ratio (DPR) is 76.98%.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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